PitchBook News - Klarna eyes $31B valuation

Read online | Don't want to receive these emails? Manage your subscription.

PitchBook

Log in

The Daily Pitch: VC

February 24, 2021

Like our newsletter? The data comes from the PitchBook Platform — our data software for VC, PE and M&A

Today's Top Stories

VCs and enterprise companies accelerate investment in software development

The digital era continues to put pressure on enterprises to improve software development capabilities and speed up internal processes, and VCs are targeting technologies that meet that demand.

Our latest installment of Emerging Tech Research includes market maps of venture-backed companies, technology overviews, and analysis of opportunities and risks in the DevOps industry. Key takeaways include:

DevOps providers raised $7.4 billion in VC funding in 2020, up from $6 billion in 2019.

Increased recognition of DevOps as a strategy to drive digital transformation is fueling investment in related tools and technology; simultaneously, society is placing more value on the ability to shop, communicate, work and learn remotely.

The DevOps space was active in IPO exits and M&A last year and we expect this trend to continue in 2021, particularly as several startups achieve late-stage unicorn valuations.

read the preview

Share:

Blackstone-backed Oatly files for US IPO

(Courtesy of Oatly)

Oatly, a maker of plant-based milk and other products that's raised capital from celebrity investors like Oprah Winfrey, has confidentially filed for an initial public offering in the US.

Oatly could seek a valuation of roughly $10 billion for its public debut, Bloomberg reported.

Last July, the Malmo, Sweden-based company raised $200 million from a group led by Blackstone, valuing it at $2 billion, according to a PitchBook estimate. Winfrey, Jay-Z's entertainment agency Roc Nation, actress Natalie Portman, former Starbucks CEO Howard Schultz, Orkila Capital and others also took part in the funding round.

Verlinvest, a family-owned evergreen investment group that's based in Brussels, is said to be Oatly's largest shareholder.

Share:

A message from Ansarada

Accelerate into 2021 with global M&A insights

Ansarada interviewed M&A experts in the Americas and APAC and conducted a survey of 50 leading dealmakers across Europe to round out a global perspective on what lies ahead.

The spirit that will define 2021 is one of resilience, readiness and transformation. The challenges posed by the pandemic are already being overcome by an intelligent approach, with clear standouts in areas of technology and better information governance.

What are the bold predictions for 2021? What will leading companies and their advisors double down on? What will help reduce risks and drive decision-making this year?

Download the report here

Share:

Recommended Reads

A reflection on the life of Lawrence Ferlinghetti, owner of San Francisco's City Lights bookstore and spiritual godfather of the Beat generation. [The New York Times]

Experts predict that Europe will become the world's largest legal cannabis market in the next five years. Some growth equity firms want to make sure they don't miss out. [Private Equity News]

How a 1960s discovery in Yellowstone made millions of COVID-19 tests possible. [USA Today]

Since yesterday, the PitchBook Platform added:

12

VC valuations

1433

People

416

Companies

18

Funds

See what our data software can do

Quick Takes


	The Daily Benchmark
	2011 Vintage US PE Funds
	VC Deals
	Klarna eyes new funding at $31B valuation
	SpaceX raises $850M
	Reddit brings in $367M+ for Series E
	Zomato gobbles up $250M round at $5.4B valuation
	Plume hits $1.35B valuation with new round
	ScienceLogic picks up $105M
	Anuvia harvests $103M Series C
	Shippo reveals $45M round
	Fundraising
	Reliance's Jio invests $200M in Kalaari Capital fund

The Daily Benchmark

2011 Vintage US PE Funds

Median IRR

14.61%

Top Quartile IRR Hurdle Rate

23.45%

1.63x

Median TVPI

Select top performers

Shamrock Capital Growth Fund III

Monomoy Capital Partners II

Carousel Capital Partners IV

*IRR: net of fees

58 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Klarna eyes new funding at $31B valuation

Swedish installment loan company Klarna has plans to raise new funding that could range from $800 million to $1 billion, Bloomberg reported. The latest capital would reportedly triple the company's valuation to $31 billion. Last September, Klarna raised $650 million in a round led by Silver Lake at a $10.65 billion valuation, making it Europe's most valuable VC-backed fintech company.

View round

View 55 competitors »

SpaceX raises $850M

SpaceX has landed $850 million for its latest financing round. The funding values the company at $74 billion, CNBC reported. Last August, SpaceX raised $1.9 billion at a $46 billion valuation, according to PitchBook data.

View round

View 25 competitors »

Reddit brings in $367M+ for Series E

Reddit has now raised more than $367 million for its Series E, with plans to secure a total of $500 million for the round, according to an SEC filing. Earlier this month, the operator of an online discussion platform raised over $250 million for the round, valuing the company at $6.15 billion, according to PitchBook data. The new funding comes from both new and existing backers, TechCrunch reported.

View round

View 16 competitors »

Zomato gobbles up $250M round at $5.4B valuation

Indian food delivery company Zomato has raised $250 million from Kora Management, Fidelity Management & Research, Tiger Global, Bow Wave Capital Management and Dragoneer Investment Group. The deal values Zomato at $5.4 billion, up from the $3.9 billion valuation it reportedly received near the end of 2020. The company is said to be pursuing an IPO in the first half of this year.

View round

View 52 competitors »

Plume hits $1.35B valuation with new round

Smart home startup Plume has raised $270 million at a $1.35 billion valuation, more than doubling its total funding to $397 million. Insight Partners was the sole investor in the Series E for the Bay Area startup. Plume's wifi system offers self-optimizing connectivity, parental controls, motion sensing and other features.

View round

View 3 competitors »

ScienceLogic picks up $105M

ScienceLogic has raised a $105 million Series E led by Silver Lake Waterman, with participation from Goldman Sachs, Intel Capital and NewView Capital. Based out of Virginia, the company provides a cloud management platform for IT operations teams. ScienceLogic was valued at $218 million in 2015, according to PitchBook data.

View round

View 120 competitors »

Anuvia harvests $103M Series C

Anuvia has raised $103 million in a round co-led by TPG ART and Pontifax AgTech, with participation from Generate and Piva Capital. The company, a producer of bio-based fertilizers and plant nutrients, plans to use the funding in part to commercialize operations.

View round

View 2 competitors »

Shippo reveals $45M round

Shippo, the provider of an ecommerce shipping platform, has announced that it raised $45 million from existing backers and several angel investors in the last quarter of 2020, valuing the San Francisco-based company at about $500 million. In April, D1 Capital Partners led a $30 million funding for Shippo that valued it at $225 million, according to PitchBook data.

View round

View 51 competitors »

Fundraising

Reliance's Jio invests $200M in Kalaari Capital fund

Indian VC investor Kalaari Capital has raised $200 million from Jio Platforms, the tech subsidiary of Reliance Industries, according to reports. Reliance previously acquired Kalaari portfolio companies including Embibe, Haptik and Urban Ladder. Jio reportedly raised more than $10 billion last year from Facebook, Alphabet, Mubadala, Silver Lake and others.

View details

View 80 investments »